Ankara — Berat Albayrak, the son-in-law of Turkish President Recep Tayyip Erdogan, unexpectedly resigned as the country’s economy chief a day after the central bank governor was fired, igniting fresh political turmoil. The lira rallied as investors found relief in the upheaval.

Albayrak cited unspecified health reasons for his decision to step down as finance and Treasury minister, according to a statement posted on his verified Instagram account on Sunday. The announcement came after Erdogan replaced central bank governor Murat Uysal with former finance minister Naci Agbal, a critic of Albayrak’s economic management...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now